حفلة 2024

Consortium plans EGP13.5 bln loan for Egypt Petroleum Corp

A consortium of nine Egyptian banks is set to secure 13.5 billion Egyptian pounds ($745.8 million) to finance the state-run Egyptian General Petroleum Corporation’s (EGPC) projects. The loan will be repaid over eight years.

The consortium includes the Commercial International Bank (CIB), the Arab African International Bank (AAIB), National Bank of Abu Dhabi – Egypt (NBAD), QNB Al-Ahli, Societe Arab Internationale de Banque (SAIB), Ahli United Bank, Emirates NBD Egypt, Egyptian Gulf Bank (EGBANK), and Export Development Bank of Egypt (EDBE).

The following table demonstrates the banks’ contributions to the loan.

The Bank

Contribution in Egyptian pound

Commercial International Bank (CIB)

1.5 billion

Arab African International Bank (AAIB)

3 billion

National Bank of Abu Dhabi –Egypt (NBAD)

1 billion

QNB Al-Ahli

2 billion

Societe Arab Internationale de Banque (SAIB)

2 billion

Ahli United Bank

500 million

Emirates NBD Egypt

500 million

Egyptian Gulf Bank (EGBANK)

2 billion

Export Development Bank of Egypt (EDBE)

1 billion

The banks are working on having final approvals about the contribution to the loan ahead of signing the contracts and disburse the money soon to the EGPC.

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